Search Results for: sub-prime

The ongoing saga of major bank settlements with the Department of Justice, Fannie Mae and Freddie Mac is mostly the result of the economic crisis of 2007-2008. Prior to this time, Bank of America and JPMorgan Chase & Co. sold...

Sub-prime loan practices began in the mid-1980s as lawmakers sought to increase housing opportunities. Prior to this, many Americans were unable to purchase a home due to credit scores below 550. Census data compiled by the Federal Reserve shows that...

The 2008 financial crisis cost investors, consumers and businesses alike. Sub-prime lending practices devolved into a riskier regime from their time of inception to address disproportionate ratios in racial borrowing power in the 1980s to the housing bubble of the...

The non-profit financial reform advocacy group Better Markets filed a lawsuit on Monday against the US Department of Justice (DOJ) to block JPMorgan Chase & Co.'s (JPM) $13 billion settlement that resolved federal and...

JPMorgan Chase & Co. (JPM) will pay the US government $614 million and improve company mortgage lending practices under a settlement announced Tuesday for claims it approved thousands of unqualified home mortgage loans for government insurance since...

The US Department of Justice (DOJ) on Tuesday announced that a $13 billion civil settlement with JPMorgan & Co. has been finalized, resolving federal and state claims arising from the...

The US Court of Appeals for the Second Circuit on Tuesday upheld the dismissal of shareholders' lawsuit against Freddie Mac alleging the company misled investors by understating its sub-prime mortgage exposure and overstating...

The Federal Housing Finance Agency (FHFA) , acting in its capacity as conservator for Freddie Mac and Fannie Mae , on Friday announced a $5.1 billion settlement with JPMorgan Chase & Co. . The FHFA alleged...

JPMorgan Chase & Co. may still face potential criminal liability regardless of a tentative $13 billion deal to settle civil disputes resulting from the US government's probe into mortgage-bond sales made by the banking...

JPMorgan Chase & Co. disclosed in its quarterly filing with the Securities and Exchange Commission on Wednesday that it is being investigated by both the civil and criminal divisions of the US Attorney's Office for...